"Red Packets" Shrunk Seven Wolves, Small Shareholders Dissatisfied.

Recently, a piece of news has aroused concern among insiders. In April 24th, Seven wolves The annual shareholders' meeting was held in the conference room of 16 floor of Huijin International Center, 77 Guanyin Mountain Road, Siming District, Xiamen. And on the same day, the company's stock declined sharply. Data show that the company's stock in April 24th opened 8.02 yuan / share, and finally closed at 7.75 yuan / share, a drop of 3.37%. Not only that, in April 25th, the company's stock closed at 7.5 yuan / share, but fell by 3.23% on that day.

In a short span of two days, the price of seven wolves fell by 6%. What is the reason?

　 All 10 motions have no vote.

At the shareholders' meeting, the seven wolves considered the 10 motions of the 2013 annual report on the work of the board of directors and the work report of the board of supervisors in 2013.

Although the 10 bills were eventually passed, some of the small shareholders of the companies voted against the 10 motions respectively.

According to the survey, a total of 13 shareholders or shareholders were represented at the shareholders meeting of the seven wolves. The number of shares representing voting rights was 336 million shares, accounting for 44.46% of the total share capital of the company. Among them, the total number of shareholders and shareholder agents who attended the shareholders' meeting at the scene totaled 3 people, representing 328 million shares of the voting shares, accounting for 43.44% of the total share capital of the company; 10 shareholders who voted through the network represented 7 million 717 thousand and 800 shares representing voting rights, accounting for 1.02% of the total share capital of the company.

According to statistics, in this vote, the "2013 profit distribution plan" voted against the largest number of votes, a total of 316 thousand and 780 shares. The 2013 annual report on the work of the board of supervisors is a bill against more than 2, and there are 205 thousand and 180 votes against it.

On the contrary, the two bills of the 2013 annual report of the board of directors and the annual report and summary of 2013 received the lowest number of votes but only 900 shares. However, there are still 315 thousand and 880 abstentions in this bill (of which 201 thousand and 100 are not abstained by voting).

Compared with the previous plenary vote of the general meeting of shareholders this year, why would shareholders of the company vote against the 10 motions at the shareholders' meeting?

Some analysts believe that the performance of the seven wolves fell by 30% in 2013, which is not ideal. Moreover, a large number of stocks in the company may affect the performance of 2014, which will cause shareholders' dissatisfaction and vote against it.

Although there are not many votes against it, compared with the full vote of the 2012 bill, it can be seen that the minority shareholders of the company began to dare to challenge the company and vote against it.

　 Small shareholders are dissatisfied with the "red envelope".

Why does the seven wolves "2013 profit distribution plan" will harvest so many votes?

According to the 2011 Annual Report, the seven wolves announced the "2 yuan cash dividend to all shareholders 10 shares per share based on the 282 million shares of the company's existing total capital stock", and at the same time, the "capital reserve fund to the shareholders of every 10 shares to 5 shares of the distribution plan."

In the 2012 annual report, the profit distribution plan for seven wolves was reduced to "1 yuan (including tax) paid to all shareholders every 10 shares based on the total share capital of the company in December 31, 2012" and 5 shares of every 10 shares of the capital reserve. Compared with the previous year, the cash dividend was 50 percent off.

Up to 2013 annual report, the profit distribution plan announced by the seven wolves was reduced again to "shareholders pay 1 yuan (including tax) for every 10 shares, and 0 shares (including tax) for bonus shares, not to be converted into capital stock by provident fund."

Thus, in the past three years, the profit distribution plan for the seven wolves has not been as good as a year, and the "red envelope" issued to shareholders has become increasingly shrunken, so the minority shareholders have expressed their dissatisfaction with the vote.

　 Performance fell 30%

In fact, this is also related to the decline in company performance. In 2013, the total revenues of the seven wolves were 2 billion 773 million yuan, down 20.23% from 2012, and the net profit attributable to shareholders of listed companies was 379 million yuan, down 32.44% from the previous year. The main business revenue was 2 billion 630 million yuan, down 20.58% compared to the same period last year. Net profit after deduction is 330 million yuan, down 41% compared with the same period last year. The company said that the impact of terminal weakness since 2012 on the company's performance began to focus in 2013.

Some analysts believe that the main reasons for the decline of the company's performance are: first, the overall environment is bad, the macroeconomic environment is not good, people's consumption tends to be cautious; second, clothing The industry as a whole is facing a period of adjustment. The previous expansion and homogenization production led to high inventory and low sales level. Third, the implementation of the strategy from wholesalers to retailers was not smooth, and also led to a decline in corporate performance. Guan Chao tide is related to the transformation of enterprises and the adjustment of the layout of channels.

One insider, who declined to be named, said that the main reason is homogenization. The aging of the seven wolves needs to be updated, and its price advantage is becoming more and more difficult to manifest, and a large number of old customers are losing. If the products of the seven wolves are still sold on the three line of quality for second line prices, the seven wolves will repeat the mistakes they made 15 years ago.

For this reason, the reply from the seven wolves publicizing propaganda is whether the performance is declining or due to changes in format and situation, the brand can not be adjusted in time. In terms of products, it is only in the process of planning and development that it is out of step with the rapid changes of the actual market.

To sum up, the company's stock has increased significantly. Data show that in 2010, 2011, 2012 and 2013, the inventory value of the company was 395 million yuan, 642 million yuan, 566 million yuan and 657 million yuan respectively.

Some analysts believe that company Such a high inventory is mainly due to the company's expanding business. It is understood that in 2010, seven wolves had 3525 terminal outlets, a net increase of 276 over 2009. In 2011, the company added 451 terminal channels to the net. In 2012, the terminal channel of the company increased by 31. The result of the huge expansion was 505 stores in 2013.

Large scale closes caused seven wolves to be badly hurt, and the company's performance was 30% straight. What the seven wolves should do now is to change the product positioning and adjust the product sales channels. In addition to training new customer groups, we need to further segment them to meet the individual needs of consumers.